Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 88,194, 34,780 total housing units (homes and apartments), and a median house value of $102,202, house prices in Fort Smith are solidly below the national average.
Single-family detached homes are the single most common housing type in Fort Smith, accounting for 64.34% of the city's housing units. Other types of housing that are prevalent in Fort Smith include large apartment complexes or high rise apartments ( 17.74%), duplexes, homes converted to apartments or other small apartment buildings ( 13.76%), and a few row houses and other attached homes ( 3.47%).
The most prevalent building size and type in Fort Smith are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.80% owning and 48.20% renting.
There is a lot of housing in Fort Smith built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fort Smith built between 1940-1969 ( 34.11%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.65%). There's also some housing in Fort Smith built before 1939 ( 5.70%).
Vacant housing appears to be an issue in Fort Smith. Fully 11.75% of the housing stock is classified as vacant. Left unchecked, vacant Fort Smith homes and apartments can be a drag on the real estate market, holding Fort Smith real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Fort Smith have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.46%, which ranks in the top 50% nationwide. This equates to an annual average Fort Smith house appreciation rate of 0.44%.
Appreciation rates are so strong in Fort Smith that despite a nationwide downturn in the housing market, Fort Smith real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fort Smith appreciation rates continue to be some of the highest in America, at 9.70%, which is higher than appreciation rates in 92.93% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fort Smith. Fort Smith appreciation rates in the latest quarter were at 4.53%, which equates to an annual appreciation rate of 19.40%.
Importantly, NeighborhoodScout’s exclusive research found that Fort Smith's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to Arkansas, our data show that Fort Smith's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fort Smith differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fort Smith - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Fort Smith real estate investment or home purchase decisions.
|$823,001 - $1,097,000||0.5|
|$548,001 - $823,000||1.5|
|$439,001 - $548,000||0.9|
|$329,001 - $439,000||2.3|
|$220,001 - $329,000||8.9|
|$110,001 - $220,000||33.3|
|$55,001 - $110,000||42.9|
|$0 - $55,000||9.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Fort Smith HOMES|
|2000 or Newer||12.7|
|1970 - 1999||47.5|
|1940 - 1969||34.1|
|1939 or Older||5.7|
|TYPE OF Fort Smith HOMES|
|Small Apt. Buildings||13.8|
|SIZE OF Fort Smith HOMES|
|5 or more bedrooms||1.66|